Question
Consider the following balance sheet data for Caras Party Supply: Cash $ 104,000 Accounts payable $ 104,500 Accounts receivable 224,500 Notes payable 111,000 Inventories 342,000
Consider the following balance sheet data for Caras Party Supply:
| Cash | $ | 104,000 | Accounts payable | $ | 104,500 | |
| Accounts receivable | 224,500 | Notes payable | 111,000 | |||
| Inventories | 342,000 | Accrued wages and taxes | 83,500 | |||
| Total current assets | $ | 670,500 | Total current liabilities | $ | 299,000 | |
| Long-term bonds | 271,000 | |||||
| Common stock | 120,000 | |||||
| Net fixed assets | 264,000 | Retained earnings | 244,500 | |||
| Total assets | $ | 934,500 | Total liabilities & equity | $ | 934,500 | |
What is the firm's total equity?
| a. | $120,000 | |
| b. | $570,000 | |
| c. | $244,500 | |
| d. | $364,500 | |
| e. | $934,500 |
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International Marketing And Export Management
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr
8th Edition
1292016922, 978-1292016924
